Bussiness
Australia Bans Alumina Exports To Russia, Sources Coal For Ukraine
Australia has imposed an immediate ban on exports of alumina and aluminum ores, including bauxite, to Russia, the government said on Sunday as part of its ongoing sanctions against Moscow for its invasion of Ukraine.
“Russia relies on Australia for nearly 20 percent of its alumina needs,” the Australian government said in a joint statement from several ministries, including the prime minister’s office. It added that the move will limit Russia’s capacity to produce aluminium, which is a critical export for Russia.
“The Government will work closely with exporters and peak bodies that will be affected by the ban to find new and expand existing markets,” the statement said.
Anglo-Australian mining giant Rio Tinto (RIO.L) owns an 80% stake in Queensland Alumina Ltd (QAL) in a joint venture with Russia’s Rusal International PJSC (RUAL.MM), the world’s second-largest aluminum producer.
Last week, Australia imposed sanctions on two Russian businessmen with links to its mining industry, one of them being billionaire Oleg Deripaska who holds stakes in QAL.
Australia has so far imposed a total of 476 sanctions on 443 individuals, including businessmen close to Russian President Vladimir Putin, and 33 entities, including most of Russia’s banking sector and all entities responsible for the country’s sovereign debt, the statement said.
The government also said it will donate at least 70,000 tonnes of thermal coal to Ukraine to meet its energy needs.
Australian coal producers have been bombarded with calls for supply over the past few weeks from Ukraine and other countries like Poland that have been reliant on Russian supplies.
“The Australian Government has worked with the Australian coal industry to source supplies,” the statement said.
Whitehaven Coal has quickly arranged a shipment, and the Government is now working with the company and the Ukrainian and Polish Governments to deliver the supplies at the earliest available opportunity, the statement said.
The government also pledged additional military equipment and humanitarian aid for Ukraine.
Source: Reuters
Bussiness
Global Market Volatility: Gov’t absorb GH¢2.00 per litre on diesel and GH¢0.36 per litre on petrol
Effective Thursday, April 16, 2026, which is the next pricing window, the Government will absorb GH¢2.00 per litre on diesel and GH¢ 0.36 per litre on petrol.
This intervention is intended to cushion customers and ease the cost burden on households, transport operators, and businesses.
The measure, approved by Cabinet, is in response to rising prices of petroleum products on the international market, which have significantly impacted ex-pump prices in Ghana.
This temporary intervention will remain in force for a period of one (1) month.
During this period government will continue to closely monitor developments in the global oil market and assess the need for further policy adjustments.
A statement signed by Minister of Government Communications, Felix Ofosu Kwakye noted that they remain commited to maintaining price stability, protecting livelihoods, and supporting Ghana’s economic recovery in the face of external shocks.
Ghana’s gold and minerals sector is set for a major spotlight as Meetings. Co, in partnership with key industry stakeholders, announces the Mining & Minerals Convention 2025, scheduled from August 26-27, 2025, at the Kempinski Hotel Gold Coast City, Accra.
Held under the theme “Shaping the Future of Ghana’s Gold Industry,”‘ the Convention will convene government leaders, regulators, miners, refiners, investors, sustainability partners, innovators, and responsible mining, and global competitiveness,policy experts to explore strategies that position Ghana’s gold industry for long-term growth.
The two-day convention will feature presidential and ministerial keynote addresses, industry thought leadership, technical paper presentations, policy dialogues, fireside chats, exhibitions, and high-level networking sessions.
Convention delegates can anticipate a dynamic and insightful experience, marked by thought leadership from leading policymakers and regulators, in-depth discussions on key topics such as sustainability, ESG, digital gold, and responsible sourcing, as well as valuable opportunities to forge public-private partnerships and investment deals.
Moreover, the event will offer practical action points aimed at unlocking greater economic value for Ghana.
The 2025 edition will be supported by a strong coalition of strategic partners, including the Ministry of Lands and Natural Resources, the Minerals Commission, GoldBod, the Minerals Income and Investment Fund (MIIF), and the Ghana Extractive Industries Transparency Initiative (GHEITI).
